Main Menu

Tag: value added tax

NEITI: Companies Owed FG N1.32trn In 2020, Oil Revenue Dipped By 40%

Nigeria Extractives Industries Transparency Initiative (NEITI)
$394bn remitted to government in 10 years, 4% of Nigeria’s gas production unaccounted for The Nigeria Extractives Industries Transparency Initiative (NEITI) yesterday revealed that oil companies’ liabilities to the federationRead More

FG Commences Collection Of Income Tax On Bonds, Short-term Securities From Today

VAT and taxes
Stockbrokers express divergent view over new policy e The federal government will today commence the collection of income tax on bonds, short-term securities. This followed the expiration of a 2012Read More

Rivers Not fighting FG On VAT – Wike

Rivers State Governor, Nyesom Wike
Against the backdrop of the legal tussle over Value Added Tax collection, the Governor of Rivers State, Nyesom Wike, has said the state has no intention to fight the FederalRead More

Northern Governors: Power Shift Not In Constitution

Northern governors
Condemn statement by the southern govs that power must move to south Oppose states’ collection of VAT, say it will lead to multiple taxation The fault lines of a dividedRead More

Falana: Judgement On VAT Will Strengthen Campaign For Restructuring

Mr. Femi Falana (SAN)
Presses states to rally round Rivers Says dispute over enforcement not call for anarchy Lagos with 70% VAT contribution will be greatest beneficiary Human rights lawyer, Mr. Femi Falana, yesterday,Read More

VAT Revenue Rises By N41.7bn In Q1

National Bureau of Statistics
Total revenue from Value Added Tax (VAT) increased by 9.17 per cent or N41.7 billion to N496.39 billion in the first quarter of the year, compared to N454.69 billion inRead More

Analysts Foresee Faster Economic Recovery As Oil Price Hits $60

International Monetary Fund (IMF)
IMF urges FG to embark on aggressive revenue mobilisation Advises FG to raise VAT to 10% by 2022 Analysts yesterday forecasted a faster economic recovery for Nigeria as crude oilRead More

Apapa Gridlock: Importers Incur N100bn Demurrage, Storage Fees In Five Days

Apapa gridlock
Truckers reject new task force Five days after THISDAY exclusively reported that over 500,000 containers are trapped at the Lagos ports owing to the intractable Apapa gridlock, the situation hasRead More

Senate Queries FIRS Over Unremitted N1.4bn Tax, VAT Deductions

Nigerian Senate
The Senate has issued two queries to the Federal Inland Revenue Service (FIRS) over its failure to remit N1.4 billion withholding tax and Value Added Tax (VAT) deducted from 33Read More